'Reaping Benefits Of Crime, No Sympathy For Being Women Or Mothers' - CBI Court Rejects Bail For Yes Bank Founder Rana Kapoor's Wife And Daughters

The court has remanded them to judicial custody till September 23.

Special Judge SU Wadgoankar observed that prima facie they are involved in a grave and serious economic offence  which caused a loss of around Rs.4000 crores of money that belongs to the public at large including poor bank depositors.

The court rejected their contentions that the trial won't be completed in the future, they were women and that they wouldn't tamper with evidence. Arguments that they were not arrested during investigation and chargesheet is already filed were also rejected.

"So the accused/applicants involved in grave offence affecting the economy of the country and continue to reap benefits of the crime committed by them don't deserve any indulgence and any sympathy for them being women or mothers of small kids..."

According to the CBI, during 2018- 2019, Kapoor entered into a criminal conspiracy with Kapil and Dheeraj Wadhawan, promoters of Dewan Housing Finance Corporation Ltd for providing the latter's companies financial assistance in lieu of "substantial undue benefit" to Kapoor and his family, through companies held by them.

The accused are booked for offences under sections 120-B r/w 409, 420, 468 and 471 of Indian Penal Code and Sec.7, 12, 13(1)(d) r/w 13(2) of Prevention of Corruption Act. The three women approached the court for bail under section 437 of the CrPC.

The court held that the accusations prima facie show their complicity with other co-accused, more particularly, Rana Kapoor in the conspiracy.

They fraudulently and dishonestly received the illegal amount pretending to be a corporate loan of Rs.300 Crores, Rs.300 Crores and Rs.600 Crores.

"They availed this amount by allowing wrongful loss to Yes Bank Ltd., which is of around Rs.4000 crores. Lakhs of depositors, who deposited the amount in Yes Bank Ltd, shareholders of Yes Bank Ltd. as well as DHFL have been duped and the banking credibility of the nation has been received serious set back."

The court further rejected their advocate Vijay Aggarwal's argument that since the three were granted interim bail, their regular bail should be confirmed.

Prosecution submitted that jail superintendent doesn't accept the custody of accused in jail without RT-PCR Report. Therefore, the court ordered the CBI to keep them in their custody till then.

According to the prosecution, from April to June 2018, YES Bank invested Rs.3700 Crores in short-term debentures of DHFL and simultaneously Kapil Wadhawan paid a kickback of Rs.600 Crores under the garb of loan to DOIT Urban Ventures (India) Pvt. Ltd. (DUVPL). Kapoor's wife and two daughters are 100% shareholders of DUVPL through another company, Morgan Credits Private.

Case Title: Bindu Kapoor & Ors v. CBI, EO-1, Delhi